Internet of Things in Construction Market to be Driven with the Rise in Safety, Productivity and Maintenance by 2020-2028

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New York, United States, Sat, 31 Oct 2020 12:33:06 / Comserve Inc. / — The market for IoT in construction is anticipated to record a CAGR of around 16% over the forecast period 2020-2028. The rise in the security and safety and improvement in productivity is driving the growth of the market.

Research Nester published a report titled “Internet of Things in construction market- Global Demand Analysis and Opportunity Outlook 2020-2028” which delivers detailed overview of the IoT in construction market in terms of market segmentation by product type, by application type, by project type, by end user and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

The market for IoT in construction is anticipated to record a CAGR of around 16% over the forecast period 2020-2028. The rise in the security and safety and improvement in productivity is driving the growth of the market. IoT allocates more time to the owners and workers to interact among themselves and to generate new ideas for project improvement along with job site issues. Further, IoT ensures adequate supply of materials along with workplace safety by monitoring the signs of risks associated with workers in real time. Based on application type, the market is segmented into remote operations, predictive maintenance, fleet management, safety management and others, out of which, the largest share in the market will be shown by remote operations segment on the account of growing construction sites and machinery along with real-time monitoring of workers. Moreover, wearable computing on-site can help the workers to access instructions in hands free mode. CLICK TO DOWNLOAD SAMPLE REPORT

Based on the regional analysis, the market for IoT in construction is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The IoT in construction market in North America is estimated to dominate the market owing to the presence of multiple Original Equipment Manufacturers (OEMs) adopting the use of IoT. The Asia Pacific region is anticipated to have highest growth rate on the back of growing digitalization and growing construction industry in China, which is a major contributor to the market growth.

Hike in the Maintenance and Productivity at Construction Sites

In construction sector, IoT provides with field sensors to prevent problems from happening and keeping the customers happy. Further, these sensors help to monitor the appropriate conditions for the work and handling issues along with the expiration of the materials. In order to avoid the budget increase, the construction sector needs to be efficient and smooth. However, sometimes with the human error, supply of materials gets delayed which affects the productivity. IoT automatically raise alarms for the supply of materials, thus enabling more readiness. These factors are anticipated to account for the growth in the market over the forecast period.

However, high cost for the implementation of Internet of Things for its greater functionality in the construction market is expected to operate as key restraint into the growth of IoT in construction market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the IoT in construction market which includes company profiling of Caterpillar Inc. (NYSE:CAT), Oracle Corporation (NYSE:ORCL), CalAmp Corporation (NASDAQ:CAMP), Trimble Inc. (NASDAQ:TRMB), Autodesk Inc. (NASDAQ:ADSK), Sigfox, Giatec Scientific Inc., Cisco Systems Inc. (NASDAQ:CSCO), Vinci SA (EPA:DG) and Construction Robotics. CLICK TO DOWNLOAD SAMPLE REPORT

The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the IoT in construction market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

Research Nester is a one-stop service provider, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives to make wise decisions for their future investment and expansion by providing them qualitative market insights and strategies while avoiding future uncertainties. We believe in honesty and sheer hard work that we trust is reflected in our work ethics. Our vision is not just limited to gain the trust of our clients but also to be equally respected by our employees and being appreciated by the competitors.

For more information, please contact:

AJ Daniel

Research Nester
Email: [email protected]
Tel: +1-6465869123

The post Internet of Things in Construction Market to be Driven with the Rise in Safety, Productivity and Maintenance by 2020-2028 appeared first on Comserveonline.

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